Common use of Default Under Other Indebtedness Clause in Contracts

Default Under Other Indebtedness. (i) The Borrower or any of its Subsidiaries shall fail (A) to make any payment of any principal of, or interest or premium on, any Indebtedness (other than in respect of the Loans or any Rate Contract) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 (or its equivalent in another currency) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) to perform or observe any term, covenant or condition on its part to be performed or observed under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform or observe is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (ii) any such Indebtedness shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs under any Rate Contract an Early Termination Date (as defined in such Rate Contract) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency).

Default Under Other Indebtedness. (i) The Borrower Borrower, Unified or any Subsidiary of its Subsidiaries Borrower shall fail (A) to make any payment of any principal of, or interest or premium on, any Indebtedness (other than in respect of the Loans or any Rate ContractLoans) having in an aggregate principal amount outstanding of at least $250,000 (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) $10,000,000 in the case of more than $1,500,000 (or its equivalent in another currencyUnified) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of Indebtedness, except where the date of such failure; amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided, or (B) to perform or observe any term, covenant or condition on its part to be performed or observed under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform or observe is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (ii) any such Indebtedness shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (ii) any “Event of Default” shall occur and be continuing under the Unified Loan Agreement; or (iii) any facility “Termination Event” or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs under any Rate Contract an Early Termination Date (as defined in such Rate Contract) resulting from (A) any event of default shall occur and be continuing under such Rate Contract as to which any Loan Purchase Agreement, the Borrower Guaranty or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) other Guaranty Obligation related to any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency)Loan Purchase Agreement.

Default Under Other Indebtedness. (i) The Borrower Borrowers, any Guarantor or any of its their respective Subsidiaries shall fail (A) to make any payment of any principal of, or interest or premium on, any Indebtedness (other than in respect of the Loans or any Rate ContractLoans) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than Two Million Dollars ($1,500,000 2,000,000.00) (or its equivalent in another currency) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable notice or grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) to perform or observe any term, covenant or condition on its part to be performed or observed under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, or any other event shall occur or condition shall exist under any such agreement or instrument, and such failure failure, event or condition shall continue after the applicable applicable, notice or grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform failure, event or observe condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (ii) any event or condition occurs that results in any such Indebtedness shall be declared to be becoming due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) any facility or commitment available to . Notwithstanding the Borrower foregoing or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) provision of the Borrower Loan Documents, the payment of the Boston Scientific Note on the Repayment Date or such Subsidiary; or (iv) there occurs under any Rate Contract an Early Termination Maturity Date (as defined therein) in such Rate Contract) resulting accordance with its terms (and provided that all required waivers from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party Senior Lenders (as defined in such Rate Contracttherein) have been obtained) shall not constitute a breach or (B) an Event of Default under any Termination Event (as so defined) as to which of the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency)Loan Documents.

Default Under Other Indebtedness. (i) The Borrower Purchaser or any of its -------------------------------- Subsidiaries shall shall (i) fail (A) to make any payment of any principal of, or interest or premium on, any Indebtedness (other than in respect of the Acquisition Loans or any Rate Contractthe Credit Line) having in an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) outstanding of more than at least $1,500,000 1,000,000 (or its equivalent in another currency) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; , provided that so long as such Indebtedness or the non-payment thereof is being diligently contested in good faith by Purchaser, no Event of Default shall be triggered unless the party claiming that Purchaser has defaulted exercises some right or remedy or takes some action that would otherwise be a Default or Event of Default under any of the Acquisition Financing Documents. (Bii) fail to perform or observe any term, covenant or condition on its part to be performed or observed under any agreement or instrument relating to any such IndebtednessIndebtedness in an aggregate principal amount outstanding of at least $1,000,000, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform or observe is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (ii) any such Indebtedness in an aggregate principal amount outstanding of at least $1,000,000 or more shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) thereof provided that if such non-performance is being diligently contested in good faith by Purchaser, no Event of Default shall be triggered unless the party claiming that Purchaser has defaulted exercises some right or remedy or takes some action that would otherwise be a Default or Event of Default under any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs under any Rate Contract an Early Termination Date (as defined in such Rate Contract) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency)Acquisition Financing Documents.

Default Under Other Indebtedness. (i) The Borrower or any of its Subsidiaries shall fail Group Company (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), regardless of amount, in respect of any principal of, Indebtedness or interest or premium on, any Indebtedness Guaranty Obligation (other than in respect of (x) Indebtedness outstanding under the Loans Term Loan Documents and (y) Swap Agreements) under or in respect of the ABL Credit Agreement, the Bridge Notes, the Senior Subordinated Notes or any Rate Contract) other Indebtedness or Guaranty Obligation having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 (or its equivalent in another currency) when due (whether by scheduled maturitythe Threshold Amount, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) fails to perform or observe any termother condition or covenant, covenant or any other event shall occur or condition on its part to be performed or observed shall exist, under any agreement or instrument relating to any such Indebtedness, when required to be performed Indebtedness or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrumentGuaranty Obligation, if the effect of such failure to perform failure, event or observe condition is to acceleratecause, or to permit the acceleration of, the maturity holder or holders or beneficiary or beneficiaries of such Indebtedness; Indebtedness or Guaranty Obligation (ii) any or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries), without or without the giving or notice or lapse of time or both, to cause such Indebtedness shall to be declared to be due and payable prior to its stated maturity, or such Guaranty Obligation to become payable, or required cash collateral in respect thereof to be prepaid demanded or (other than C) shall be required by a regularly scheduled required prepayment), the terms of such Indebtedness or Guaranty Obligation to offer to prepay or repurchase such Indebtedness or the primary Indebtedness underlying such Guaranty Obligation (or any portion thereof) prior to the stated maturity thereofthereof as a result of a breach by such Group Company of, or a default under, the documents or instruments governing such Indebtedness or Guaranty Obligation; or (iii) any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (ivii) there occurs under any Rate Contract Swap Agreement or Swap Obligation an Early Termination Date (as defined in such Rate ContractSwap Agreement) resulting from (A) any event of default under such Rate Contract Swap Agreement as to which the Borrower or any Subsidiary Group Company is the Defaulting Party (as defined in such Rate ContractSwap Agreement) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary Group Company is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary a Group Company as a result thereof is greater than $1,500,000 (or its equivalent in another currency)the Threshold Amount.

Default Under Other Indebtedness. beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created or (iy) The Borrower default in the observance or any of its Subsidiaries shall fail (A) to make any payment performance of any principal of, agreement or interest or premium on, condition relating to any Indebtedness (other than the Guaranteed Obligations and any Indebtedness arising under or in connection with the Caterair Holdings Secured Note but only to the extent that there is sufficient cash collateral to satisfy in full all obligations in respect of the Loans Caterair Holdings Secured Note) or contained in any instrument or agreement evidencing, securing or relating thereto or any Rate Contract) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 (or its equivalent in another currency) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure other event shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) to perform or observe any term, covenant occur or condition on its part to be performed or observed under any agreement or instrument relating to any such Indebtednessexist, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform which default or observe other event or condition is to acceleratecause, or to would permit the acceleration of, the maturity holder or holders of such Indebtedness; Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause (determined without regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity, or (ii) any such Indebtedness (other than the Guaranteed Obligations and any Indebtedness arising under or in connection with the Caterair Holdings Secured Note but only to the extent that there is sufficient cash collateral to satisfy in full all obligations in respect of the Caterair Holdings Secured Note) of the Guarantor, Caterair Holdings or the Designated Onex Sub shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; , provided that it shall not be a Default or an OFSI Event of Default under this clause (iiiC) any facility or commitment available to unless the Borrower or any Subsidiary relating to aggregate principal amount of all Indebtedness as described in an aggregate amount at any one time of not less than $1,500,000 preceding clauses (or its equivalent in any other currencyi) and (ii) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiaryat least $15,000,000; or (iv) there occurs under any Rate Contract an Early Termination Date (as defined in such Rate Contract) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency).or

Default Under Other Indebtedness. (i) The Borrower or any of its Material Subsidiaries shall fail (A) to make any payment of any principal of, or interest or premium on, any single Indebtedness (other than in respect of the Loans or any Rate ContractLoans) having an aggregate a principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 10,000,000 (or its equivalent in another currency) when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace or notice period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) to perform or observe any term, covenant or condition on its part to be performed or observed under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, or any other event shall occur or condition shall exist under any such agreement or instrument, and such failure failure, event or condition shall continue after the applicable grace or notice period, if any, specified in such agreement or instrument, if the effect of such failure to perform failure, event or observe condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (ii) any such Indebtedness shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs under any Rate Contract an Early Termination Date (as defined in such Rate Contract) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Material Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Material Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Material Subsidiary as a result thereof is greater than $1,500,000 10,000,000 (or its equivalent in another currency).

Default Under Other Indebtedness. (i) The Borrower or any of its Material Subsidiaries shall fail (A) to make any payment of any principal of, or interest or premium on, on any Indebtedness (other than Indebtedness incurred hereunder but including any Indebtedness incurred under any Related Document) of the Borrower or such Material Subsidiary (or any Guaranty Obligation in respect of the Loans or Indebtedness of any Rate Contractother Person) having an aggregate a principal amount equal to or greater than ten million Dollars (including undrawn committed or available amounts $10,000,000), when the same becomes due and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 (or its equivalent in another currency) when due payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), (ii) and such failure any other event shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure; or (B) to perform or observe any term, covenant occur or condition on its part to be performed or observed shall exist under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform event or observe condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or , (iiiii) any such Indebtedness shall become or be declared to be due and payable, or required to be prepaid or repurchased (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs any reduction or termination of the commitments under any Rate Contract an Early the NUF Loan Documents prior to the NUF Scheduled Termination Date or any repayment or prepayment thereunder shall occur other than as expressly permitted by Section 8.5 (Restricted Payments), (v) the failure of any of the Obligations, the NUF Subordinated Indebtedness or the Attributable Securitization Indebtedness to be permitted under the Indenture as "Permitted Debt" as defined therein (after taking into account any grace period provided for such failure by the Indenture) or (vi) any "Event of Default" (under and as defined in such Rate Contractthe NUF Loan Documents) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined), and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency).shall occur; or

Default Under Other Indebtedness. (i) The Borrower or any of its Material Subsidiaries shall fail (A) to make any payment of any principal of, or interest or premium on, on any Indebtedness of the Borrower or any such Material Subsidiary (other than the Obligations) or any Guaranty Obligation in respect of the Loans or Indebtedness of any Rate Contract) other Person, and, in each case, such failure relates to Indebtedness having an aggregate a NATIONAL STEEL CORPORATION CREDIT AGREEMENT principal amount not less than ten million Dollars (including undrawn committed $10,000,000) (individually or available amounts in the aggregate with other Indebtedness to which this clause (h) would otherwise apply), when the same becomes due and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $1,500,000 (or its equivalent in another currency) when due payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness as of the date of such failure); or (Bii) to perform or observe any term, covenant other event shall occur or condition on its part to be performed or observed shall exist under any agreement or instrument relating to any such Indebtedness, when required to be performed or observed, and such failure shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such failure to perform event or observe condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or (iiiii) any such Indebtedness shall become or be declared to be due and payable, or required to be prepaid or repurchased (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; (iii) any facility or commitment available to the Borrower or any Subsidiary relating to Indebtedness in an aggregate amount at any one time of not less than $1,500,000 (or its equivalent in any other currency) is withdrawn, suspended or cancelled by reason of any default (however described) of the Borrower or such Subsidiary; or (iv) there occurs any reduction or termination of the commitments under any Rate Contract an Early the NUF Loan Documents prior to the NUF Scheduled Termination Date or any repayment or prepayment thereunder shall occur other than as expressly permitted by Section 8.5 (Restricted Payments); or (v) the failure of any of the Obligations or the NUF Subordinated Indebtedness to be permitted under the Indenture (without regard to any grace period provided for such failure by the Indenture); or (vi) any "Event of Default", under and as defined in such Rate Contract) resulting from (A) any event of default under such Rate Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Rate Contract) or (B) any Termination Event (as so defined) as to which the Borrower or any Subsidiary is an Affected Party (as so defined)NUF Loan Documents, and, in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than $1,500,000 (or its equivalent in another currency).shall occur; or